The Impact of Consumer Knowledge Bias on Narrow-Scope Trust, Broad-Scope Trust, and Relationship Satisfaction

Research output: Chapter in Book/Report/Conference proceedingArticle in proceedingsResearchpeer-review

Abstract

This study investigates how consumer knowledge bias - defined as knowledge over/underconfidence (O/U) - influences two types of trust (broad-scope trust and narrow-scope trust) and consumer relationship satisfaction. Based on a survey comprising 756 mutual fund investors, the contribution of this study to the marketing literature is twofold. First, taking a marketing relationship approach this study suggests and demonstrates that knowledge O/U positively influences relationship satisfaction and narrow-scope trust such that the more knowledge O/U a customer becomes, the higher/lower the level of relationship satisfaction and narrow-scope trust. Second, it is proposed and shown that broad-scope trust negatively moderates the relationship between knowledge O/U and relationship satisfaction such that knowledge O/U has a greater positive/negative effect on relationship satisfaction when broad-scope trust is low compared to high. Notably, the study findings strongly suggest that marketing managers should carry out their relationship satisfaction and trust improvement efforts relative to the combination of customers‟ subjective and objective knowledge.
Original languageEnglish
Title of host publicationProceedings of the 15th International Conference Marketing Trends 2016 Madrid
EditorsJean-Claude Andreani, Umberto Collesei
Number of pages16
Place of PublicationParis-Venice
PublisherMarketing Trends Association
Publication date2016
ISBN (Electronic)9782953281127
Publication statusPublished - 2016
EventThe 15th International Marketing Trends Conference - Isola di San Servolo, Venice, Italy
Duration: 21 Jan 201623 Jan 2016
Conference number: 15
http://www.marketing-trends-congress.com/node/3

Conference

ConferenceThe 15th International Marketing Trends Conference
Number15
LocationIsola di San Servolo
CountryItaly
CityVenice
Period21/01/201623/01/2016
Internet address

Keywords

  • Knowledge over/under confidence
  • Cognitive bias
  • Broad-scope trust
  • Narrow-scope trust
  • Relationship satisfaction

Cite this

Hansen, T., Grønholdt, L., Josiassen, A., & Martensen, A. (2016). The Impact of Consumer Knowledge Bias on Narrow-Scope Trust, Broad-Scope Trust, and Relationship Satisfaction. In J-C. Andreani, & U. Collesei (Eds.), Proceedings of the 15th International Conference Marketing Trends 2016 Madrid Paris-Venice: Marketing Trends Association.
Hansen, Torben ; Grønholdt, Lars ; Josiassen, Alexander ; Martensen, Anne. / The Impact of Consumer Knowledge Bias on Narrow-Scope Trust, Broad-Scope Trust, and Relationship Satisfaction. Proceedings of the 15th International Conference Marketing Trends 2016 Madrid. editor / Jean-Claude Andreani ; Umberto Collesei. Paris-Venice : Marketing Trends Association, 2016.
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abstract = "This study investigates how consumer knowledge bias - defined as knowledge over/underconfidence (O/U) - influences two types of trust (broad-scope trust and narrow-scope trust) and consumer relationship satisfaction. Based on a survey comprising 756 mutual fund investors, the contribution of this study to the marketing literature is twofold. First, taking a marketing relationship approach this study suggests and demonstrates that knowledge O/U positively influences relationship satisfaction and narrow-scope trust such that the more knowledge O/U a customer becomes, the higher/lower the level of relationship satisfaction and narrow-scope trust. Second, it is proposed and shown that broad-scope trust negatively moderates the relationship between knowledge O/U and relationship satisfaction such that knowledge O/U has a greater positive/negative effect on relationship satisfaction when broad-scope trust is low compared to high. Notably, the study findings strongly suggest that marketing managers should carry out their relationship satisfaction and trust improvement efforts relative to the combination of customers‟ subjective and objective knowledge.",
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Hansen, T, Grønholdt, L, Josiassen, A & Martensen, A 2016, The Impact of Consumer Knowledge Bias on Narrow-Scope Trust, Broad-Scope Trust, and Relationship Satisfaction. in J-C Andreani & U Collesei (eds), Proceedings of the 15th International Conference Marketing Trends 2016 Madrid. Marketing Trends Association, Paris-Venice, Venice, Italy, 21/01/2016.

The Impact of Consumer Knowledge Bias on Narrow-Scope Trust, Broad-Scope Trust, and Relationship Satisfaction. / Hansen, Torben; Grønholdt, Lars; Josiassen, Alexander; Martensen, Anne.

Proceedings of the 15th International Conference Marketing Trends 2016 Madrid. ed. / Jean-Claude Andreani; Umberto Collesei. Paris-Venice : Marketing Trends Association, 2016.

Research output: Chapter in Book/Report/Conference proceedingArticle in proceedingsResearchpeer-review

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T1 - The Impact of Consumer Knowledge Bias on Narrow-Scope Trust, Broad-Scope Trust, and Relationship Satisfaction

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AB - This study investigates how consumer knowledge bias - defined as knowledge over/underconfidence (O/U) - influences two types of trust (broad-scope trust and narrow-scope trust) and consumer relationship satisfaction. Based on a survey comprising 756 mutual fund investors, the contribution of this study to the marketing literature is twofold. First, taking a marketing relationship approach this study suggests and demonstrates that knowledge O/U positively influences relationship satisfaction and narrow-scope trust such that the more knowledge O/U a customer becomes, the higher/lower the level of relationship satisfaction and narrow-scope trust. Second, it is proposed and shown that broad-scope trust negatively moderates the relationship between knowledge O/U and relationship satisfaction such that knowledge O/U has a greater positive/negative effect on relationship satisfaction when broad-scope trust is low compared to high. Notably, the study findings strongly suggest that marketing managers should carry out their relationship satisfaction and trust improvement efforts relative to the combination of customers‟ subjective and objective knowledge.

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KW - Knowledge over/under confidence

KW - Cognitive bias

KW - Broad-scope trust

KW - Narrow-scope trust

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M3 - Article in proceedings

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Hansen T, Grønholdt L, Josiassen A, Martensen A. The Impact of Consumer Knowledge Bias on Narrow-Scope Trust, Broad-Scope Trust, and Relationship Satisfaction. In Andreani J-C, Collesei U, editors, Proceedings of the 15th International Conference Marketing Trends 2016 Madrid. Paris-Venice: Marketing Trends Association. 2016